MONTPELLIER, France--(BUSINESS WIRE)--Regulatory News:
Sensorion (Paris:ALSEN) (FR0012596468 – ALSEN) a pioneering clinical-stage biotechnology company which specializes in gene therapies in the ear, announces the appointment of Khalil Barrage as Interim Chair of the Board. Mr Barrage will replace Scott D. Myers, who has informed the Board that he will step down to manage other commitments, as he was recently appointed as Chief Executive Officer of Viridian Therapeutics Inc.
Mr Barrage has served on the Board of Sensorion for over three years, supporting with several capital raises and providing leadership on the Company’s evolution towards becoming a gene therapy-focused company. He has been a managing director at Invus Group, a major investor in Sensorion, for nearly 20 years, heading its Public Equity group and serves on the Boards of Elevate Bio, Onxeo, Orthobond and Protagenic Therapeutics. He is also a Board member of the Children of Armenia Fund and Solving Kids Cancer. Mr Barrage holds a BA from the American University of Beirut.
Sensorion has commenced a search process to appoint a new independent Chair of the Board and will provide an update in due course.
Nawal Ouzren, Chief Executive Officer of Sensorion, commented: “Scott has been an extremely effective and engaged Chair at Sensorion and on behalf of the Board and management team, I would like to extend my sincere thanks and wish him well going forward.
“Khalil Barrage is a seasoned investment professional with decades of experience investing in and supporting private and public life sciences companies. We are delighted to have someone of his calibre and who knows the Company so well, steering the business as we evolve our focus into the promising area of gene therapies for the ear.”
Khalil Barrage commented: “I also would like to thank Scott for his immense contribution, he has provided expert leadership as we have moved into the next stage of development with a focus on gene therapy. Sensorion is a great Company with a highly compelling proposition for creating durable solutions to address inner ear disease. I’m very confident that the team can help steward its promising programme of gene therapy assets into clinical development.
“Sensorion is building an extremely high-quality leadership team, recently appointing David Lawrence as our Chief Financial Officer alongside Nawal. David has decades of experience in financing, capital markets and business development. This is the right team to move Sensorion and its innovative product candidates forward and I’m excited to be working with them.”
Sensorion is a pioneering clinical-stage biotech company, which specializes in the development of gene therapies to restore hearing loss disorders, a significant global unmet medical need.
Sensorion has built a unique R&D technology platform to expand its understanding of the pathophysiology and etiology of inner ear related diseases, enabling it to select the best targets and mechanisms of action for drug candidates.
It has two gene therapy programs aimed at correcting hereditary monogenic forms of deafness, developed in the framework of its broad strategic collaboration focused on the genetics of hearing with the Institut Pasteur. OTOF-GT targets deafness caused by mutations of the gene encoding for otoferlin and GJB2-GT targets hearing loss related to mutations in GJB2 gene to potentially address important hearing loss segments in adults and children. The Company is also working on the identification of biomarkers to improve diagnosis of these underserved illnesses.
Sensorion’s portfolio also comprises clinical-stage small molecule programs for the treatment and prevention of hearing loss disorders.
Sensorion’s clinical-stage portfolio includes one Phase 2 product: SENS-401 (Arazasetron) progressing in a planned Phase 2 proof of concept clinical study of SENS-401 in Cisplatin-Induced Ototoxicity (CIO) and, with partner Cochlear Limited, in a study of SENS-401 in patients scheduled for cochlear implantation. A Phase 2 study of SENS-401 was also completed in Sudden Sensorineural Hearing Loss (SSNHL) in January 2022.
This press release contains certain forward-looking statements concerning Sensorion and its business. Such forward looking statements are based on assumptions that Sensorion considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the 2022 full year financial report published on March 30, 2023, and available on our website and to the development of economic conditions, financial markets and the markets in which Sensorion operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Sensorion or not currently considered material by Sensorion. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Sensorion to be materially different from such forward-looking statements. This press release and the information that it contains do not constitute an offer to sell or subscribe for, or a solicitation of an offer to purchase or subscribe for, Sensorion shares in any country. The communication of this press release in certain countries may constitute a violation of local laws and regulations. Any recipient of this press release must inform oneself of any such local restrictions and comply therewith.